Stock futures trading higher before the Fed decision

The global stock market seems to recover from the dip lead by Evergrande’s possible default. Traders and investors stay cautious ahead of the Fed FOMC meeting announcement today. Tapering and interest-rate decisions will be observed closely to get a clue on what will happen next.

At the current time, the DJIA index is higher 188 points and indicates higher opening before the market open.

Asian & European Stock market

The Asian stock market is slightly higher except for Japan. Japan Stock market down 200.31 points (-0.67%) to 29,639.40 China stock market up 14.52 points (+0.40%) to 3,628.49, and Australia ASX 200 up 23.10 points (+0.32%) to 7,296.90. The European stock market is trading upward. DAX Germany up 0.60%, UK FTSE up 1.10%, Euro STOXX 600 up 0.61%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index was mostly under pressure before the Fed FOMC meeting today. The index might continue trading near the current level until there is an announcement regarding tapering and interest rates. If the index continues its bearish movement then traders will expect a test on the daily SMA 200.

On the other hand, if the index moves upward and closes above daily SMA 100 also 50 then the bullish trend will continue.

Price T Rowe Groups (TROW)

TROW share prices seem to have broken its bullish trendline and fell toward the daily SMA 100. A test on the averages will happen and traders will observe the price reaction. If the price could maintain the level and bounce from the daily SMA 100 then there is a chance for bullish continuation. Further weakness below the averages will target the daily SMA 200.